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Pin to quick picksSystem1 Group Regulatory News (SYS1)

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Share Buyback

31 Mar 2016 07:20

RNS Number : 6564T
BrainJuicer Group PLC
31 March 2016
 

 

 

 

Press Release

31 March 2016

 

BrainJuicer Group PLC (AIM: BJU)

("BrainJuicer" or "the Company")

 

Share Buyback

 

BrainJuicer, the innovative international market research agency, is pleased to announce its intention to commence, with immediate effect, a share buy-back (the "Buyback") using existing cash resources to make market purchases of up to 1 million of its ordinary shares pursuant to the general authority given to it at the Company's 2015 Annual General Meeting.

 

Following the full year results announcement on Monday 21 March 2016, and the recent weakness in the share price, and in line with the stated commitment to return excess capital to shareholders, the Board has decided to implement the Buyback. Accordingly, any shareholders wishing to participate in the Buyback should contact the Company's broker Canaccord Genuity Limited. The Buyback shall be effected in such manner and on such terms as the directors of the Company may from time to time determine.

 

The maximum price to be paid shall not be more than the higher of: (i) 5% above the average middle market closing price of the Company's shares for the 5 business days immediately preceding the day on which the purchase is made; and (ii) that stipulated by article 5(1) of the Buyback and Stabilisation Regulation.

 

The Buyback will be undertaken until the earlier of all 1 million ordinary shares being repurchased and the Company's 2016 Annual General Meeting on 6 May 2016. Any Shares repurchased will be held in Treasury.

 

Due to the general illiquidity in trading of BrainJuicer's ordinary shares, in order for the Company to buy back ordinary shares, it will be purchasing materially in excess of the limit of 25 per cent. and/or 50 per cent. of average daily volume in the 20 trading days preceding the date of the purchase as is set out in the Code of Market Conduct and, as such, the Company would be deviating from the safe harbour set out in MAR 1 Annex 1 to the Code of Market Conduct. Should a repurchase exceed either the 25 per cent. or 50 per cent. levels, such repurchase is likely to represent a significant proportion of the daily trading volume.

 

John Kearon, Chief Executive Officer of the Company, intends to participate in the Buyback. The Buyback will be conducted conditional upon John's interest in the ordinary shares of the Company, and those deemed to be acting in concert with him, not increasing beyond the percentage of voting rights currently held.

 

The Company will make further announcements in due course following the completion of any purchase of ordinary shares pursuant to the Buyback.

 

The Company confirms it currently has no unpublished price sensitive information.

 

 

For further information, please contact:

BrainJuicer Group PLC

Tel: +44 (0)20 7043 1000

 

John Kearon, Chief Executive Officer

 

James Geddes, Chief Financial Officer

 

Canaccord Genuity Limited (Nomad)

Tel: +44 (0)20 7523 8000

Simon Bridges / Henry Fitzgerald-O'Connor / Emma Gabriel

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
POSJBMFTMBBJMBF
Date   Source Headline
24th Feb 20177:00 amRNSNotice of GM
10th Feb 20173:46 pmRNSExercise of Options
9th Feb 20177:00 amRNSResults for the 12 months ended 31 December 2016
7th Feb 20177:00 amRNSBoard Appointment
20th Jan 20177:00 amRNSTrading Update
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1st Nov 20165:34 pmRNSTransaction in Own Shares
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13th Oct 20165:34 pmRNSTransaction in Own Shares
12th Oct 20161:44 pmRNSTransaction in Own Shares
4th Oct 20167:00 amRNSDirectorPDMR Dealing and Transaction in Own Shares
30th Sep 20165:15 pmRNSTransaction in Own Shares
27th Sep 20164:57 pmRNSExercise of Options, PDMR Shareholding
22nd Sep 20167:00 amRNSExercise of Options and Transaction in Own Shares
22nd Sep 20167:00 amRNSTransaction in Own Shares
20th Sep 20166:23 pmRNSHolding(s) in Company
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16th Sep 20167:00 amRNSInterim Results
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26th Aug 201611:42 amRNSHolding(s) in Company
16th Aug 20164:15 pmRNSAdditional Listing
15th Jul 20167:00 amRNSTrading Update
20th Jun 20164:40 pmRNSTransaction in Own Shares
6th Jun 20164:45 pmRNSDirector Dealing
6th Jun 201611:17 amRNSDirector Dealing
3rd Jun 20162:17 pmRNSHolding(s) in Company
2nd Jun 20166:02 pmRNSDirector Dealing and Transaction in Own Shares
18th May 20165:46 pmRNSDirector Dealing and Transaction in Own Shares
6th May 201612:19 pmRNSResult of AGM
4th May 20163:55 pmRNSTransaction in Own Shares
22nd Apr 20163:17 pmRNSHolding(s) in Company
22nd Apr 20161:07 pmRNSHolding(s) in Company
22nd Apr 20167:00 amRNSTransaction in Own Shares and Director Dealing
21st Apr 201611:41 amRNSDistributable Reserves
8th Apr 20165:54 pmRNSAnnual Report and Notice of AGM
31st Mar 20167:20 amRNSShare Buyback
21st Mar 20167:00 amRNSChange of accounting reference date
21st Mar 20167:00 amRNSDividend Declaration
21st Mar 20167:00 amRNSFinal Results
19th Feb 20163:25 pmRNSHolding(s) in Company
17th Feb 20164:16 pmRNSHolding(s) in Company
17th Feb 20167:00 amRNSHolding(s) in Company
12th Feb 201611:17 amRNSHolding(s) in Company
18th Jan 20167:00 amRNSTrading Update
15th Jan 20161:31 pmRNSNotification in accordance with FRS 101
30th Nov 20156:28 pmRNSHolding(s) in Company
12th Nov 20159:56 amRNSTransaction in Own Shares

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